Benefits And Costs Of Gambling Industry

Benefits And Costs Of Gambling Industry

2322 WordsApr 22nd, 201610 Pages

THE BENEFITS AND COSTS OF GAMBLING INDUSTRY

INTRODUCTION Although the development of human civilization is accelerating, the gambling is one of the of the oldest entertainment industries all over the world which does not change dating back to the ancient times. Taking the United States gambling history as an example, “In America, colonial legislatures authorized 157 lotteries from the 1740s through 1776 to assist governments and other institutions. The first legal casinos of the modern era opened in Nevada in 1931. The country’s first lottery, in New Hampshire, began in 1964.” (Schwartz 43) Whatever the gambling is legal or illegal, it exists in the society for such a long history. The gambling is an outstanding and magic entertainment approach to have a leisure time or reduce the pressure from the duty work and a fast profit model for the investors from the beginning to nowadays. The trend would be sustained or even developed faster and bigger in the future. The patterns and forms of gambling are evolved age by age. The gambling has affected the development of society a lot, including plenty of benefits and costs. They are many types of gambling patterns existed in current society, such as pari-mutuel, lottery, slots, cardroom, Indian Casino, Commercial Casino, greyhound racing, horse racing and so forth. The high reward and low investment always attract more and more people to join in the gambling to try their fortune, lucky enough or unlucky. Gamblers’ fluke mind and…

Impact of Cost-benefit analysis on industry decision making: Transportation
Cost-benefit analysis (CBA), in essence, is a tool for decision making. It can be applied to almost any kind of decision in any kind of field. In its most pure form, a CBA will aggregate the pros and cons (positive and negative effects) of a proposal, and, if the pros (benefits) outweigh the cons (costs), the proposal is viable. Usually, the analyst will assign monetary values to each of the costs and benefits, hence making…

Sarbanes-Oxley Act: A Cost-Benefit Analysis Using The U.S. Banking Industry
Philip H. Siegel, Augusta State University, USA David P. Franz, San Francisco State University, USA John O’Shaughnessy, San Francisco State University, USA
ABSTRACT There are many analyses of the economic effects that regulations, in general, and Sarbanes-Oxley Act, in particular, have had on American business. This analysis looks at the effect that the Sarbanes-Oxley Act has had on the American banking industry. The return on…

Gambling has been a form of entertainment since ancient history. Games of skill and chance using an early form of playing cards can be dated as early as 2300 B.C. and for thousands of years has evolved to become one of the most lucrative forms of business. In the year 1931 a bill was introduced to legalize gambling and Nevada 's first casino resort, the Meadows opened. By December 1946 brought a new form of casino gaming with the Flamingo Hotel as the first modern casino in Las Vegas offering, luxurious…

People may think of the benefits of legalizing gambling first, but there come clear distinct problems that could be the result of the legalization. It is without question that there would be instances of players betting on various games whether it be on games in their league or others, and would give the leagues another giant problem to monitor of their players. There have already been clear problems with a variety of players in different sports like John Daly in golf, Michael Jordan, and Charles…

Regionalism Briefing
Introduction
The globalization of the marketplace has brought about costs and benefits for all countries and industries. A main benefit of globalization for producers, like the those of us in the manufacturing industry is access to more customers however, competition also increases which decreases the potential for sales. Economic integrations are a part of global business that look to increase the efficiency of resources. Economic integrations and trading blocs are instituted…

To what extent can legalizing gambling benefit or harm society? According to the U.S. Travel Association the average direct spending by tourists, both internal and international, in the U.S. is about $2.5 billion a day, $105.8 million an hour, $1.8 million a minute and $29,398 a second. As noted by these statistics, the tourist industry produces billions, if not trillions, of dollars in revenue for the economy of the country. With 3 out of 4 tourist are on leisure travel with the intent of spending…

The cost-benefit matrix can be used to analyze an industry and the position of different firms in that industry. The industry I have chosen to study this concept is the restaurant industry. At the low end of the industry in terms of cost are quick service restaurants. They require little effort to find and most consumers do not expend much effort on the purchase decision. The product costs are low. Within this category it is easy to find example of low benefit outlets and ones with higher benefit…

The Sociat Costs and Benefits of a Fast Food Industry
There are many social benefits to a fast food industry. Firstly, it’s
the accessibility and convenience of having the fast food restaurants
– they’re located practically everywhere. The service is also fast,
hence “fast food” and therefore maximizing the convenience of them to
consumers.
Most of the time, the products of the fast food industry are cheap,
tasty and therefore have good value for the product. The existence…

Gambling Among College Students
Gambling is risking money or something of value on uncertain events driven by chance. Most people see gambling as just another form of fun. Gambling often becomes a sensitive issue for the gambler and their family. This is especially important to consider, since the practice of gambling among college students is constantly growing with the rise of internet-based gambling.Though gambling is legal in many states, it does not make it right for people to engage in such…

money at your own risk. It has been determined that casinos are located in through the United States and in global nationwide. Throughout this paper, we will see how that the global industries are competitive and characteristics that make casinos global.
Description of Casinos
Bloomberg described casinos as an industry that profits from people betting against the odds is looking for more risk takers online and in Asia (Bloomberg). Any time we are betting online or in the casinos, we consider ourselves…